Empowering the CBI
The last decade of the century sees the CBI becoming the Indian version of the FBI under J. Edgar Hoover in the middle of the century -- with one difference. The FBI became a key component and feared public institution through Hoover's open aggression, while its Indian version gained eminence by the open, meek submission of its spineless Director to his political masters.
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Converting to the dependent economy
Thank God the Committee on convertibility of the rupee has laid stiff conditions for its introduction. The anxiousness to move fast on this front, however, arises from a perception that it would help the inflows of foreign investment (FI) and pull our rates of growth to higher levels. That may indeed be true, for now.
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